471 Doris Valade

Jeffrey Feldberg: [00:00:00] What happens when a young woman walks into a male dominated industry in the 1980s and ends up owning the boardroom two decades later? Meet Doris Valade, an entrepreneur who didn't just break the glass ceiling. She dismantled the whole frame. Doris built Malabar, Super Spice Company, a specialty food manufacturing company from the ground up, eventually scaling it into a national success story and selling it after more than 30 years at the helm.

But her story isn't just about seasoning blends or market expansion, it's about navigating resistance, burnout, reinvention, and redefining success on our own terms. After exiting her company, Doris did not fade into the background she leaned in today. She coaches, CEOs and business owners with the same candor and clarity that helped her lead a manufacturing business through generational change, market disruption and personal transformation.

Doris has lived what most [00:01:00] entrepreneurs only read about her insights cut through the fluff and come from decades in the trenches. Whether you're growing your first business or preparing for your last exit. Doris brings a kind of grounded wisdom that stops you mid-sentence. This is the conversation you didn't know that you needed from someone who's been exactly where you are and knows exactly where it leads.

And before we hop into the podcast, a quick word from our sponsor, Deep Wealth and the Deep Wealth Mastery Program. We have William, a graduate of Deep Both Mastery, and he says, I didn't have the time for Deep Both Mastery, but I made the time and I'm glad I did.

What I learned goes far beyond any other executive program or coach I've ever experienced. Or how about Bruce? Bruce says, before Deep Wealth Mastery, the challenge I had with most business programs, coaches, or blogs was that they were one dimensional. Through Deep Wealth Mastery, I'm part of a richer community of other successful business owners.

The idea shared forever changed the trajectory of the business and best of all, the experience was fun. [00:02:00] And we'll round things out with Stacey. 

Stacey said, I wish I had access to the Deep Wealth Mastery before my liquidity event, as it would have been extremely helpful. Deep Wealth Mastery exceeded my expectations in terms of content and quality.

And you know what, my Deep Wealth Nation, why they're saying this is because Deep Wealth Mastery, it's the only system based on a nine figure deal. That was my deal. And as you know, I said no to a seven figure offer, and I created a system that we now call Deep Wealth Mastery that helped myself and my business partners, welcome from a different buyer, a different offer, a nine figure exit.

So if you're interested in growing your profits, preparing for a future liquidity event, if that's two years away or 20 years away, and you want to optimize your post exit life, Deep Wealth Mastery is for you. Please email success at deepwealth. com. Again, that's success, S U C C E S S, at deepwealth. com. We'll send you all the information about Deep Wealth Mastery, otherwise known as Scale for Ultimate Sale. That's where you want to be. You want to be with other successful business owners, [00:03:00] entrepreneurs, and founders just like you who are looking to create market disruptions.

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Welcome to the Deep Wealth Podcast, Deep Wealth Nation we have an esteemed friend, post-exit entrepreneur, an elder, an angel investor, back on the Deep Wealth Podcast. Doris, welcome back. You and I had such a lovely call the other time, and on that podcast that we had, by the way, Deep Wealth Nation.

We'll put all that in the show notes. We were talking about your post-exit life. We've had two episodes about your exit and what you. To get to your exit. Then being an elder and helping other post-exit entrepreneurs really transitioned into that chapter. But you are multifaceted because in addition to being a mentor and a coach for post-exit entrepreneurs, you're also an angel investor.

And after that interview, we said, Hey, why don't we have another one here? We had so much fun. I'll use the F word and talk about angel [00:04:00] investing and your role in that. So welcome back to Deep Wealth Podcast and Doris. For our new community members in the Deep Wealth Nation, we are growing by leaps and bounds.

We'll link for them the other episodes that we've done, but really what's been going on since we last spoke? What's the story behind the story post-exit? What's been going on? I.

Doris Valade: Thanks Jeffrey, and it's always a pleasure. I love our conversations and I certainly love the opportunity to kind of reach out there. And tell stories because that's what life is all about. So, PostIt in selling my company after 35 years and 60 hour work weeks, and then going through COVID post-exit was definitely a journey.

There was a lot of ups and downs trying to figure out what I was gonna do next, even figuring out who I was. 'cause I was no longer president of a company, which was my identity for so many years. And so I start to reach out and think about, well, what do I like? What do I enjoy? What do I wanna do? What's out there?

Where can I. Bring [00:05:00] value. Where can I give back and where can I keep learning? Because curiosity is what kind of keeps us going. And especially after we've closed a chapter. It's the curiosity that takes us into what's possible out there. So one of the things that I did is I wanted, looked at some charity work and there's so many ways to volunteer, but I wanted to do something really local.

So I ended up starting a small chapter of a hundred women who Care. So that's here in Flamborough Waterdown, which is in my area, and it's a chapter of a giving circle that is worldwide. And, but I wanted something very local, so this chapter gave me that opportunity. I had two friends that I asked to help me.

Very straightforward. And in the a hundred women who care, I. We meet four times a year, and each of the ladies come with the commitment to provide a hundred dollars doNation. During our one hour meeting, we have a presentation from three [00:06:00] local charities, and they must be local. And at the end of the one hour, all of the ladies then vote on which charity they wish to support.

So the goal is to have a hundred members and at a hundred dollars, that's $10,000 doNation at the end of one hour. So we are up to 70 ladies in our local chapter, which we are just thrilled with. And we have supported some local charities that nobody had even heard of, and many of them don't even get any other support.

So one good example would be migrants Matter, which is our local farming community, brings in a lot of immigrants to help during the summer. Well, some of them stay through the winter and have no coats or boots because they don't know what winter is in Canada. so we actually supported migrants matter and provided those boots and coats that they wouldn't have had otherwise.

So that was a nice piece of my journey. However, I missed the business component. I missed being involved in what innovations are out there. [00:07:00] So I came across Angel One, which is a group of angel investors that meet and I was invited to attend the first meeting just to see what it's all about.

'cause I had no idea. A lot of people don't realize what angel investors do, where they are. And so I went to the first meeting, it was in Burlington, and I was hooked. So with angel investing, it's not. Only about the capital investment, but there's also the giving back in mentoring, in networking, and in learning about the startups and we also get them in different segments, med tech is a big one. FinTech is a big one. I'm encouraging those to come out of the food industry because my background was in food manufacturing. as an angel investor, it's been a lot of fun and met some great people and some great entrepreneurs.

Jeffrey Feldberg: And so Doris, we're gonna do a Deep dive on what it's like for you sitting on the other side of the table in terms of, am I going to invest in this [00:08:00] company? Perhaps I can mentor them. Perhaps I'm gonna say thank you, but no thank you. I. Before we do that though, as I'm listening to your story and as I've gotten to know you really over the years, and as we spoke about last time, you're one of our first interviews on the Wealth podcast.

It was lockdown, it was COVI and I was struggling behind the microphone. You're gracious enough, and actually you came back a second time after that one, during COVID still to help out and paid forward and Doris for me. That's your theme, helping others, giving back, paying it forward despite how busy you are in what's going on in your world.

And so before we go into angel investing and what all that is looking like and what we should really know about that, I know there are people in Deep Wealth Nation that are saying, Hey, that's great that Doris can find the time to give back and volunteer and be part of the community or the entrepreneurial community, whatever the case may be.

I'm just too busy. I don't have time for that. When my business grows up, maybe I'll do that, or when I sell my business, maybe I'll do that. Endorses my own data. Point in one. Having been on both sides of the [00:09:00] table without judgment, I'm gonna say, Hey, friend. That's probably the wrong attitude and you probably wanna find ways to carve out some time now, but that's just me.

Where are you on that in terms of why did you make the sacrifice? Find that time when you didn't have time to give back, even when you were building Malabar, your original company, to take it to new levels, to new heights and dominate the industry?

Doris Valade: That's an interesting question and certainly when I look at the members in Angel one, they aren't all retired. Okay. And they aren't all multi-billionaires or multi-millionaires. We have some in the banking industry. Many of them are still working full-time. Some are semi-retired. So it is a whole mix.

And what's common to all of them is the opportunity to. Give back to help those around us that we know. When you're starting a business, it's a very lonely place to be, and the more you build your network, the better chances you have for success. So for [00:10:00] most of the members in Angel One, it's only a two and a half hour commitment once a month.

Okay, so that's not a big commitment. And if you can't find two and a half hours in a month, then there's some time management issues possibly. And with that, I think there's a piece in all of us as we've gone through the ups and downs of whether it's starting a business, running a business, or even being in corporate management, there's a piece of us that have learned so many lessons that we would love to share.

And that's truly what angel investing is all about. We don't just share capital, we share what we've learned. We mentor, we provide them with feedback on how to then progress their company so that they can reach out for capital. So they're not stuck because they don't have any money, but they have a great idea or a great innovation.

Jeffrey Feldberg: What's interesting about that as you're walking us through your mindset and more importantly how you're feeling not to put words in your mouth and you can share Jeffrey OnBase or off base when you're volunteering, when [00:11:00] you're giving of your time. Literally, it sounds as though, number one, it's giving you joy and fulfillment, and there's an old saying that oftentimes the giver.

Receives more or gets more than the receiver. Not that we're going into it expecting, oh, this person's gonna owe me, or, I'm doing this because I want to get that. We're doing it from, I'm gonna be selfless in this. I'm doing it because I can help someone else not expecting anything in return. But oftentimes we do get more in return unexpectedly.

From, to your point, lessons learned. I'm also hearing you say, yes, you're helping other people and at the same time. You're also helping yourself in terms of building out a network for those? Well, just in case or, wow, I never knew I need to know someone in this industry, but I do. Let me reach out. How am I doing with that?

Doris Valade: No that's very true. So, through Angel one I've made a number of very new friends who all share similar interests. And as I think I mentioned earlier, one of them is our curiosity to learn more [00:12:00] about what's happening out there. Because I'm not going into work every day and I'm not having some of the same network that I had before.

I still wanna know what's happening in technology, what's happening in startups, in entrepreneurs what are their challenges that I can help with? And so the value that I get is not only the opportunity to share, but to hear their stories and to let them know that they're not alone. So going back to some of the areas, we get presentations once a month from three to five different startups and some of the new medical technologies that are coming out.

I would never have known some of them in terms of some of the medical devices that are coming on the forefront. We had another company on drones and how manufacturing of drones is helping out in the mining industry, for example we had a pair of ladies in one of our meetings who presented a whole line of women's slippers.

I. That were customized in such a way that they provided more [00:13:00] comfort and more breathability than your standard slipper, for example. So that is so interesting to those of us that wanna learn more, that wanna see more. So that's one of the greatest benefits along with the new friends that I've made that I've pulled out of the whole angel investing ecosystem.

Jeffrey Feldberg: Wow. Okay. And what I really admire with your particular situation, Doris, I'm gonna talk about this now. You've been on both sides of the table. Not everyone can say that. You've been there as an entrepreneur, you're bootstrapping it. You're getting the company out there. Later on, you're at the deal table.

You had a very successful exit. You did some incredible things, which we talked about in our earlier episodes. I'll have a link to all those episodes in the show notes. And now you're still in the entrepreneurial mode more from an investment side, and there's a difference. There's a difference in mindset.

There's an difference in how we look at the world. So I know as entrepreneurs, the glass is always, at least for me, the glass is always half full and it's gonna be great. [00:14:00] I'll figure this out. Yeah, I will do it. When it comes to investing and getting up in front of oftentimes our peers. Well, it's a different set of rules.

It's a different game. And for some of us, perhaps we've never played that before. So let's look at for the moment, the glass half empty and we'll get to the glass half full shortly. Glass half empty though. When you're seeing these pitches from companies that really do need the capital there, a real entity, they could prosper from this infusion of capital, but they're getting it all wrong and you're walking away, you're saying.

I love what you're doing. I just can't write the check for you. Now. Every company's different. I get it. Everyone's journey is going to be unique. That said, as we've shared in other episodes, is OL's Law at play here. Yeah. Jeffrey, 20% of the same issues I'm seeing again and again of what they're either doing or not doing are creating 80% of the perhaps mistakes or missed opportunities.

Are there patterns that you're seeing and what will those be?

Doris Valade: Yeah, so I also sit on the volunteer screening committee with Angel One. [00:15:00] So we then get the pitches from a number of different startups and we provide our feedback and then also make the decision as to who will go on to our monthly meetings. And you're right, being prepared. Knowing concisely and clearly what your company has to offer is fundamental then to the presentation to the approach that you have to potential investors even to potentially to those who can help you in other ways.

And through the screening committee, we provide feedback on the pitch, but also some feedback onto where some of the weaknesses are in the pitch itself, which can also identify some of the weaknesses in the startup company and possibly some of the weaknesses that the business leader has as well. So whether it's from communication, whether it's how strong is their leadership team, whether it's.

Making their pitch more concise to a [00:16:00] broader audience so that we can understand it. And then also in terms of them understanding their product as well as where the revenue's going to come from. We do get a number of pre-seed pitches, which is very early stage startups, so we're not looking for them to make millions of dollars.

We do want to have the confidence that they have the potential to earn millions of dollars. And so we love to help them to develop that potential. So in whether it's with the mentoring, we also guide with the pitches we encourage them to come back and pitch again. We also encourage them to expand their network, including some of us as angel investors.

I sit on the advisory board of one of the companies that I did decide to invest in. So it doesn't have to be half full as you put it, if you're willing to be open to improvement, to feedback, to support and to just learning. [00:17:00] So a lot of them know their product really well, but they don't have the business foundation.

Jeffrey Feldberg: So let's talk about that then. And I know Tous, we could have forget an episode, it could be an entire series on every single one of these issues. And by the way, as you're talking mentally, in my mind, I'm going through the Deep Wealth, our Mastery program, our nine-step roadmap, which is perfect for startups that are looking to get that angel investment in addition to the more established companies that are already out there.

That said, if you could pick. It's not really a fair question, but if you could pick one action, one preparation strategy that a company could do, they're saying, okay, we're starting up right now. We know we're gonna be asking for some kind of infusion of capital, perhaps we're gonna be going to Angel one, or looking to get some investment very early on in the company.

If they could do one thing, what would that low hanging fruit be? That, okay, I'm gonna do this one thing and it's going to really help. Pave the way, maybe in and of itself is not gonna be the only thing that have them cross the finish line, but [00:18:00] it'll really make a difference and help them get there sooner than later.

Doris Valade: My, probably my primary recommendation would be for them to reach out to local innovation hubs or, for example, close to where I am, there's the innovation factory they provide a great portal for startups that really would like some feedback, some help, very early stage, and they want some exposure. As well as some guidance. You can even just go through your local business center. There's entrepreneur centers in every region. Start there. Reach out and say, how can you help me?

How can you help me to grow my business?

Jeffrey Feldberg: So we're going to these innovation hubs and very early on, and we're asking for help. And I know for a lot of entrepreneurs, I'm gonna put myself in this category. I've become better at it. I'm still practicing, and I'm still falling down and picking myself back up. I am more than happy to give.

Receiving and getting help oftentimes is a challenge for me. So when we're asking for [00:19:00] help, what specifically should we be asking for at an innovation hub as an example?

Doris Valade: So again it would depend on what level you're at. If you're very early startup and you haven't even put a. Pitch together. Innovation hubs will guide you and hold your hand basically to get that pitch put together and to provide feedback to make it effective, to make the most of your time when you're able to pitch to an angel investor, for example, if you need help with a business plan and from a business plan, if you already have one, they'll provide guidance on putting a strategy of growth together. And if nothing else, just feedback from another. A pair of eyes and another business mind that's objective to what you do every day. You're in the trenches every day. It's very easy for a young company to get lost in the trees. An innovation center will pull you out of the trees and help you to look at the forest of your business,

Jeffrey Feldberg: Okay.

Doris Valade: can certainly open some opportunities for you and perhaps give you a [00:20:00] different perspective.

Jeffrey Feldberg: Okay. Excellent advice. Now let's work it backwards. Let's start at the very end, and we're gonna work that back. So when we're going to an innovation hub or we're going to angel one or an investor, we've actually got most things right, if not everything as much as one can. And so you're sitting across the table.

Now, let's fast forward to a company is pitching you, Doris at Angel one, Doris as an investor, and they're saying Write the check. Regardless of what that amount is. So, Doris, what are you looking for now? This is the glass half full. What are you looking for? Whether it's a formal checklist that you have or something in your mind?

A mental checklist. Okay. Do they have this? Yes. Check. Do they have that? Yes, they do. Are they doing this? Oh, yes. Is this in there? Yes, it is. Okay, terrific. I'm going to take that risk. I'm gonna write the check. What does that look for? What's your criteria?

Doris Valade: Okay. So with angel one, because I know them the best, but I know the other angel groups, across North America. Is that with Angel one, we have. In the process of putting a checklist together, because we get asked that question quite a [00:21:00] bit and there's some common points that we do look for in the pitch and in the presenter, the company owner.

And so with that top of mind, and this was instrumental in one of the companies that I chose to invest in, was the owner themselves. With connecting with the owner and I met with the business owner after he made his presentation. I was interested in the product, but I was more interested in him and his ability to understand business, to understand what his weaknesses were, and to see how well he listened.

' cause listening becomes the key to business growth no matter what size your business is, small, medium, or large. If you don't know how to listen, you're going to miss so much potential, both for yourself and for the company. In fact, that is the number one thing I looked for, and I connected very well with the business owner, and we are in touch.

Every three months I get [00:22:00] updates. He asks for help where it's needed. He's open to my suggestions. And so that would be one of the key considerations.

Jeffrey Feldberg: So interesting. Not to put words in your mouth. And again, you can say Jeffrey OnBase or off base, I'm hearing that style over substance. So in other words, I can have the world's best presentation. I. If as the founder I'm presenting and maybe there's something off with me or my interactions with you or whatever the case is going to be, it's just perhaps having a walk away saying I am not so sure about that, Jeffrey.

Yeah, great idea. Terrific. Company execution looks pretty good, but yeah, that, Jeffrey, I don't know. So I'm hearing you say that that could dissuade you from investing in a company if you're not feeling, perhaps it's that chemistry or that belief in that founder.

Doris Valade: That's true and it will generally come across in the pitch that they do. Sometimes we get pitches that are so technical, so for example, with some of the medical devices and they go off on a tangent about the whole, all the technical [00:23:00] aspects of the medical device, when in fact we really first wanna hear their story.

Why did they come up with this idea? Why did they develop this product? Why are they so passionate about it? And how can they show that passion to us? Because if you're not passionate about your product, you're not gonna sell anything. So, so that's in the pitch. We can get some that are so complicated, so drawn out, and they throw all kinds of numbers out there.

They tend to over impress. Instead of letting us in to who they are first and how they started their own journey.

Jeffrey Feldberg: Interesting. So, Doris, this is gonna be a real tough question. I have to ask it though. And you would be perfectly right to say, well, Jeffrey, listen, every entrepreneur, every founder, business owner, it's different. They're on their own path. I can't prescribe something generally speaking, but that's exactly what I'm asking.

So if I'm listening to the two of us talk, and perhaps I am a founder who's amazing on the technical side, but when it comes to getting up in front of people and giving that [00:24:00] pitch. Wow, that terrifies me. I would rather go to the dentist than do that. I'm just not comfortable in front of people. And by the way, that's the early Jeffrey.

I would get up in front of people. I'd be sweating buckets before I even got up on stage or in front of people. Thankfully, I figured that out. What can I be doing? This has nothing to do with business. What do I need to do to work on myself before I ever get in a room of possible investors like yourself and give my pitch?

What should that be looking like?

Doris Valade: So quite often we will look at the support team that the entrepreneur has. And we'll use medical devices again, because it is so technical, we will see that their list of advisors are all doctors, okay? And all researchers, which is wonderful. You need that. But then our next question is, who is your business Advisor? Who is guiding you on the business aspect outside of the medical

Jeffrey Feldberg: Mm-hmm. 

Doris Valade: Devices? Because that's what you need. And with a business Advisor, we'll provide you the connections whether you take on a your own [00:25:00] business coach. Whether you reach out to a hub, then to do the pitch separate from the doctors and researchers that you have, but you do need that support on the business side and it's out there.

Jeffrey Feldberg: Okay, so what I'm hearing you say is, well, hey Jeffrey, it's not just about you. It is about you, but it's also who have you surrounded yourself with. So, as an example, Jeffrey, you're the world's super geek. You're incredible at that. Whatever area that's going to be, I. But you have an advisory board or you have mentors or coaches around you who can cover off your blind spots, your weak spots.

That's going to, as you, Doris Data 0.01 here for you, but it's going to give you some reassurances. Okay? Maybe Jeffrey doesn't have it quite himself in that area. He has a solid team around them.

Doris Valade: Yep. That's very true. And it makes all the difference. And the earlier you start doing that, the sooner you will have success in what you're doing.

Jeffrey Feldberg: Mm-hmm. And then the sooner you can grow the business and hopefully [00:26:00] maybe one day sell it.

Okay. And that's a whole other conversation. You and I have spoken about that many a times and again, and people Nation in the show notes, there'll be links about that. So Doris on a hundred point scale, I. In terms of the founder and the team around the founder, not necessarily only employees. It could be mentors, it could be a board, it could be advisors around that particular founder.

Out of 100, how many points are you giving towards, well, how does a founder present him or herself, and what kind of people and resources does a founder surround him or herself with? What would that be out of subjectively?

Doris Valade: Oh, that would goodness. That's right up there. I'm gonna say 80.

Jeffrey Feldberg: Okay.

You know what's interesting about that? It's. Maybe the good Old's law, the 80 20. So you're saying, Hey, 80% of my evaluation, of my decision for a go or no go, 80% of that. It's not on the numbers, it's not on the projections. It's not even on the company itself. It's on the founder and the [00:27:00] people surrounding the founder.

And what's interesting, you said, ad and Pulp Nation. I promise you Doris and I did not speak before this episode about this, Doris, I've had evaluators. Come onto the Wealth podcast and they've said the exact same thing, Jeffrey. 80% of my valuation number, it's all about the narrative. I don't even look at the profit and loss.

I don't even look at the projections. If that narrative, and to me, the narrative is not just a story about the company, it's the story about the founder. It's the people around, the founder, the team members. So for evaluators that are doing this all day long, it's exactly the same for them. That 80% of their valuation number is all about the founder.

The story around the people, the team, and then the company, and then way behind that, it's the projections, the financials, all the number crunching, but that's a very distant second. Very interesting that you're putting in, in, in that order as well.

Doris Valade: Okay. Yep. No, I couldn't agree more.

Jeffrey Feldberg: Okay, so let's keep on moving [00:28:00] along this. So you're looking at the founder, the people around the founder, whether that's a board, whether that's team members, employees, whatever the case is going to be. Okay, so now we've got that down, that there's some comfort level there. Nothing's perfect, but okay. You know what?

I have a chemistry with the founder, with the team. I believe in what they're doing. What are you looking for next? I.

Doris Valade: Well, the other part of it for myself personally, as an angel investor was understanding what they do, what their service is, what their product is. Okay. So I do lean towards food companies because again, that's my background. And also. The manufacturing side. So I don't have the medical background, so even though I find some of the medical innovations are amazing and it's tempting.

I also then will watch out for some women founders. I don't focus only on women, but certainly a woman entrepreneur does have a very tough road ahead. And. Many investors [00:29:00] don't have the same confidence necessarily in a woman entrepreneur as they do in the men. So, I do watch for them. I do provide guidance.

I do have two clients right now who are both women founders and just helping them a little bit more. And there's also a lot of women only venture capital groups now. Angel one, we don't, we're not selective. We're completely open. We look at the startup in terms of the overall potential. However, for some women founders, they might be more comfortable in a women only.

So, for myself it's understanding the background and understanding the product or the service. If it's too complicated, then I will shy away from it because there has to be a comfort level for myself as well.

Jeffrey Feldberg: Okay. And so every angel investor is gonna be different. But my takeaway here, Doris, from what you're saying. As a founder, know who I'm pitching against and when I know who those people are as investors, do my own [00:30:00] due diligence. Okay. What's Doris? What's she all about? What are her interests? What's her focus?

Oh, she had a food company. Oh, interesting. I have a company in the food space. Maybe that's gonna be something that we can talk about. Oh, okay. I noticed that she is really to support female entrepreneurs. Okay, terrific. And so really for each angel investor or each investor really. I am looking for, well, what's their interest?

What's their background? Where are there some overlaps? Because it's that old saying, people want to do business with friends over strangers. And so even though I'm walking in as a stranger to you, if I can walk out as a friend because we have some interests, we've talked about that we have maybe even some common friends in our networks that know each other and we're building that rapport, you're gonna have a much better comfort level and an understanding of who I am, what I'm all about, how am I doing with that?

Doris Valade: Yeah. No that's, very true. That's very true. And yeah, it's like you're building your network. Okay. Reaching out to different angel investor groups is.

To your network, you [00:31:00] may not get the capital. However, it's not just about that. You're going to as you mentioned, you may come across one or two potential advisors for your company or a mentor that will guide you.

Also it's did you think about meeting this person or what about this company? So there's introductions that can be made as well, which we love to do. So it's definitely many components. To an angel investor, and it's not just the capital end. Just as a footnote, when we do provide capital as an angel investor, because quite often our main focus is on early growth entrepreneurs, our investment can start at 25,000.

So as an investor, you don't have to be a billionaire or a multi multimillionaire.

All right. And as an angel of one member, we're not required to put in so much money regularly. The membership actually, and our co-chair, Anna Misra, says it very well in that it's really all about the people, and [00:32:00] that is the foundation of the Angel Investment groups.

Okay. It's about the people, whether it's the startups. Whether it's the networks, whether it's making friends with other investors. So it's a very interesting segment that we encourage people to get involved with.

Jeffrey Feldberg: As you're talking about that, you're actually reminding me, I've been mentoring a very young entrepreneur who came to me and was looking to get things going. I'm making some introductions, and he came back and said, Hey, Jeffrey, one of the introductions that you've made. They couldn't help me again. I said, well go back to them and ask them if they know of someone who can, because just because someone closes a door.

It could be opening a door that you never even imagined went back and he got introduced to somebody else and that other individual couldn't help. And I said, well, just go back and ask one more time for that other person. Do they know of somebody? A very long story short, yes. One of the introductions that said No.

He got introduced to someone who said yes, and he now has an opportunity of a lifetime in [00:33:00] front of him and he's gone down that path. And it's just, to your point, you're networking because I know for one person, well they could introduce you, which would be a yes for another person. That's what I love about that.

So if for. Looking things here now, so okay, take a step back. You've advised, okay, who I am as a person, I have to have some social intelligence around me, some emotional intelligence around me, and I'm showing up with a terrific team, and I have a wonderful narrative. And of course, we'll get to the numbers in just a moment.

Once I have that, well, what do I know about the people that I'm pitching? Are there some areas and overlaps of interest that I should know about? That can be some conversation starters when I walk into the room before we get to the numbers and the presentation itself and projections. Anything else that you're considering as an investor that we haven't covered just yet?

Doris Valade: I guess one of the other considerations is to know your numbers. You don't have to be an accountant. However, you do need a solid understanding of what your costs are for your product or your service, what your [00:34:00] potential revenue is realistically. And some steps along the way as to how you plan to increase that revenue.

Jeffrey Feldberg: Okay.

Doris Valade: Okay? And in many cases, I mean, we do hope that you have a good accountant on your team. Doesn't have to be a CFO, okay? You a small company, but certainly a good accountant that can help you with those numbers and that you're not doing that part alone if that's not your area of expertise.

Jeffrey Feldberg: Okay. And so let's talk about that. And actually in the ninth step roadmap, step three, future buyer, we talk a lot about projections and numbers and financial reports, and I suspect we're gonna be saying the same things here. So Doris, there's a way to do projections and there's a way not to do projections.

Let's talk about what not to do for starters. So when it comes to, I'm sharing projections with you of where we are today and where I expect to be in one. 2, 3, 5 years from now, what should I not be doing?

Doris Valade: Don't over evaluate your company please, because [00:35:00] we do ask um, as part of their reporting to do a valuation

And quite often they look to the moon and that's all great. Okay, reaching for the moon is not a bad thing. However, being realistic is also important. So doing a realistic valuation. And if you're not sure, again, reach out for some feedback as to ahead of time, whether or not you're valuation sounds realistic.

So that's certainly one area. And on the projections. It's very hard to do a projection five or 10 years from now, but you can realistically do one for one to two years and then put in a multiple with the caveat that you don't fully understand yet where you're going to be five years from now because it's moving fast. So being honest is not a bad thing. But definitely knowing your audience. If you're doing your pitch to a, number of doctors, you can become [00:36:00] more technical on the medical side. If you're doing more on the software side, you can provide some technical components in there. But if you're doing one, for example, to Angel one where we have a very diverse group of angel investors.

Some in the banking, a couple in the medical field, semi-retired, some still working at corporate to keep it more about you, why you're doing the, what you're doing, what, why you love what you're doing, and where you see the company going and why. So telling your story with some background is really the key.

Jeffrey Feldberg: And sometimes as founders, we drink our own Kool-Aid and so we are showing up with these projections that we believe in. It's that good old hockey stick. It is just a straight shot up with revenue and it's going ballistic and we're creating market disruptions on paper. It looks great. I'm hearing you say it's a red flag, so how do I know Doris that well?

Jeffrey. Perhaps it's a [00:37:00] little too optimistic. Why don't you tone it back? What would be some things that I can do just to make sure I'm not crossing that line with you?

Doris Valade: And that's where you reach out, the importance of having a, an advisory. Even two or three people around you, or even if you're part of an innovation hub, they'll provide you with some feedback. There are a lot of resources out there to get a more objective view of where your business is today and where it can go.

So it's the reaching out for help and the asking, and you and I have talked about that so many times, and yet that's the foundation for any successful business. Is to ask for help, ask for guidance, ask for opinions, ask for introductions. Ask for who can help me to do okay. A more accurate projection.

Right? And with that, you may get one or two that say, I don't know. Well and like you said, then do you know of someone?

It's never a waste of time. And the opportunities that come from that. And I found that [00:38:00] personally in running my own company, and I see it every day in the startups that we help asking for help, assistance, advice is the foundation for any successful business.

I.

Jeffrey Feldberg: Doris. With that in mind, you said something that's very easy to gloss over in Deepp Nation. I hope you're paying attention. Because Doris, you're saying as an investor, and you can tell me Jeffrey OnBase or office, what I'm hearing you say is, Jeffrey, as an investor, I don't want you to tell me you have all the answers because I know you don't.

I want you to show up, have some vulnerability and say, I don't know, or, I'm not so sure about this, or I didn't include it because here's why. Tell us more about that. What's going on there? Some would perceive it as a weakness, you're saying? Actually no, that's a strength.

Doris Valade: It depends how far along you are in reaching out for investment. Okay? If you're really serious and ready for investment, then you need to have the answers to those questions. I. Already in hand. So as a very pre-seed, early stage [00:39:00] startup, when you find yourself with those questions, and you'll get them when you, so for example, as I mentioned, when we do our screening committee, we will identify some of the questions and they will realize that, oh, I can't answer that.

Then maybe you're not quite ready to do your pitch yet. So identifying some of those gaps ahead of time so that when you're in front of angel investors, you have the answers to those questions. And that's part of that checklist that we talked about too, that we are putting together. So if you have some questions, get confident with some of those answers.

Clean up your pitch, make it more concise, be very clear, and then go in with confidence.

Jeffrey Feldberg: Okay, so know that you don't know what you don't know, and do your best to fill in the dots and. I'm really hearing you say, Hey, do your preparation. Do your own due diligence. Speak to other entrepreneurs that have gone down this path. Go to that [00:40:00] innovation hub, see what's going on there. Ask for help. And so when it comes to putting together financial reports, what should we be looking for in terms of a person to do that?

Particularly if, as we're talking about here, a startup, to your point, they're not bringing on board A CFO, at least before they have funding. It's not gonna be in that realm. So who should they be turning to that. It's gonna give them credibility, but it's not gonna break the bank. What are you looking for?

Doris Valade: They need an accountant for sure.

You need someone to do your year end anyway. Okay. You have some tax reporting that needs to be done. So bring on board a very competent accountant. And there's also some very competent bookkeepers that specialize in small startups who have team that will pull in members of their accounting team when your company needs it. And that's what I would look for if I was starting up a company today, and that they are out there. I do know of a few that are very flexible in meeting the needs of a startup to provide as [00:41:00] much or as little guidance as they need so that you're not doing it alone, but you're also not breaking the bank because we know every penny counts.

But the return on your investment by having a good bookkeeper or account accounting team with you. Then also builds the foundation of your company that you need in order to grow. And if it's, if that was, that financial foundation isn't there, then you will not be in business five years from now. For sure.

Jeffrey Feldberg: And so Doris, what I'm hearing you say, and again, Jeffrey OnBase or off base, independent of whatever the financial numbers are showing, when you're looking at that founder who's pitching for some investment, and you're asking, okay, do I have a chemistry with this founder and who is surrounding that founder?

I. So if that founder has people who really aren't experienced in accounting in financials that are doing the projections, that sounds like it's a big red X on your checklist, you are not giving that check mark as opposed to a founder who's walking in and they have some respectable financial people around them.

It could be an [00:42:00] accounting firm. It doesn't have to be one of the big, I don't even know what we're up to these days, the top four, the six three, whatever it is on the accounting side, but that they have a certified accountant. That's part of the team and some financial people that are really helping in the background.

That's part of what you're looking for.

Doris Valade: for sure. Yes.

Jeffrey Feldberg: So what are you saying, Doris? That chat, GPT, just isn't gonna cut it, or, my favorite AI bot isn't gonna cut it in terms of my financials.

Doris Valade: True and QuickBooks, and putting your numbers in yourself on Excel spreadsheets, please don't,

Jeffrey Feldberg: This is where logos do make a difference, at least on the financial side, as part of the narrative of, Hey, yeah, I've put my money where my mouth is. I have invested in the right people around me to really make that difference.

Doris Valade: Exactly. Yes. Yep. I know what my, costs are. I know what my potential revenue is. I know where profitability will be if it isn't already. And that's, important.

Jeffrey Feldberg: Doris, when you're writing the check, and this is where every angel investor is going to be different. For some angel investors, it is all about the profits. Hey, I wanna put some capital into play [00:43:00] here because I'm expecting a big ROI and I'm knowing, out of 10 investments I might lose eight, but the other two are gonna make up for that.

But for other angel investors, it's more than just the money. So for you, a very personal question, why are you doing the angel investing? What's your, if I can use this and I'm using air quotes, since nobody can see the two of us, what's your return on investment above and beyond the numbers?

Doris Valade: As I mentioned, the curiosity to keep learning about what's new and exciting, the innovation that's happening across the different industries, and I think right now with. So much that's happening with tariffs and trade relations. It's good to have an understanding of where we're going for the future and where can I help to impact that.

So the investment side, I don't have a lot of money to invest. So I also see Angel one as the opportunity to meet new people, to provide some mentoring [00:44:00] guidance, and to also encourage the startup companies to keep going.

Jeffrey Feldberg: Okay.

And so, Doris, let me ask you this, and again, this is a Jeffrey OnBase off-base question. What I'm hearing you say is that narrative is so important. I don't have to necessarily be inventing an entirely new product or service or creating a new industry. I can take a tried and true industry, but I can find something that's novel, that's unique, put an interesting story around that, find a real world problem that isn't being addressed.

And that's going to pique your interest of, Hey, wow, I never knew in this industry that even existed that you can even do this, that's part of the allure of what you're looking for, that you wanna learn, you wanna see what's going on that you otherwise wouldn't have known.

Doris Valade: That's very true. It's a lot. In a lot of cases, it's a service or a product that already exists, but it's inferior or it's outdated. And these startups have found a way to reinvent, to redesign to provide a [00:45:00] new perspective. And in quite often it's not a brand new idea, but it's a better idea.

And it's interesting to see what comes across.

Jeffrey Feldberg: Okay. So Depap Nation a lot there. In terms of Doris, what you're looking for, what you're not looking for, and Doris, when you look at your colleagues on Angel one, fellow investors, how different are they in terms of their approach or what they're looking for their return on investment? I know every investor has their own nuances, their own quirks, if you will.

All of us do. Are they that different in terms of what we've been speaking about, or they're more or less similar to you?

Doris Valade: They're very similar. None of us. Well, maybe there's the odd. One, but for the most part we know we're not going to become multimillionaires. Okay. That's not the reason that we became an angel investor. Would be wonderful if it happens. And for some it may happen and it does happen. But for most of us, it's the whole interaction of being able to [00:46:00] participate in the entrepreneurial ecosystem.

Where they need the help the most. That's the foundation of every economy worldwide is the startup. If we don't have startups, we have no economy, we have no businesses. I remember when I first started my business, it was a business of one that was just me. Okay. And I held many hats, and it's a lonely place.

So to be successful and recognizing that angel investors can be a very big part of that success is what keeps me involved in the group.

Jeffrey Feldberg: Terrific. And Doris, before we go into wrap up mode and your. Pro at this, but before we get there, are there particular questions? I know there's questions I haven't asked that we're just bumping up against some time here, but is there a question I haven't yet asked or even a topic, a message, a theme that we haven't covered yet that you'd like to share with the Deep Wealth Nation?

Doris Valade: I guess what I would ask, I guess, and it's my ask, is to spread the word about the [00:47:00] possibility of including angel investors in your conversations that there are opportunities for entrepreneurs startup companies. To provide some additional support that they didn't even know was out there, and that we help in many ways.

And it's not all about the money, and we would love to help where we can. And so if you could introduce us, we welcome the introduction and we look forward to the possible discussions.

Jeffrey Feldberg: And Doris, what's interesting about that, because I'm now going full circle to how we start. Of this conversation, and I'm just gonna do a quick thought experiment with you. Maybe at the moment I'm not looking for some angel investment, but I've identified you and your group learned about you, and I'm now making the point to introduce you, your team.

To other startups, and perhaps it works out, perhaps it doesn't. But down the road, should I need some kind of infusion of capital? And you already know me and I've done this selfless act because it's not really doing it because down the road, I know I'm gonna need capital or, hey, [00:48:00] I really like what Doris is doing.

And hey Tracy, I want you to speak to Doris over here because look at what she's doing at Angel One. And this could just be terrific, or I'm speaking to friends. Hey Tony. Watching to meet Doris and team at Angel One, they can help you. You can have them invest in your company. I know you're just starting out.

You're looking for some capital. When I'm doing that, when I'm spreading the word, I'm now getting to be known by you. Even though we're not necessarily at this point directly interacting, but I'm building up some goodwill. I'm building up my network and who knows where that's gonna go. How am I doing with that?

Doris Valade: No, that's true. And it is all about the network. And as I just to reinforce in the discussion around angel investors in communicating not only to the startups and the young entrepreneurs, but also to those that have been in business for many years who are semi-retired or retired, there are some great relationships that we can build together.

By recognizing some of the benefits to joining an Angel one group or connecting with an angel one group.

Jeffrey Feldberg: So be the matchmaker, be the [00:49:00] connector. But more importantly, let's follow the anthem for all entrepreneurs. Let's go the extra mile. Not because we expect something in return, but because we can and because we want. Onto. I think that's terrific advice. Absolutely. So that said, Doris, my goodness, I've lost track.

This is gonna be your fourth or fifth kick at the can. As we begin to wrap things up here, it's a tradition here on the Wealth podcast, especially for the new members to the community where it's my privilege, my honor, for every guest I ask the same question. Doris, you are a pro at this. Let me remind you of the question.

It's a fun one. When you think of the movie Back to the Future, you have that magical DeLorean car that will take you to any point in time. So doors is tomorrow morning, you look outside your window. This is the fun part. Not only is the DeLorean car curbside, the door is open, it's waiting for you to hop on in which you do, and you're now gonna go back to any point in your life, perhaps as Doris as a teenager, a young child, whatever point in time it would be.

What are you telling your younger self in terms of life wisdom, life [00:50:00] lessons, or, hey Doris, do this, but don't do that. What would that sound like?

Doris Valade: Well, I'll give you a personal answer to that question. Okay. I'm gonna go a little outta my comfort zone here. I am an introvert at heart. And with that, connecting with people hasn't always been easy for me. And when you're starting a business and growing a business, I have learned that saying hello and getting into a group of people as we say, networking is worth the effort.

And even though it took me outta my comfort zone. There were so many times where I would go to an event or go to a new group and I would end up meeting someone or connecting with someone. That was so interesting that shared some like values, some like ideas or offered to make an introduction. It was so often that I would come away going, I'm glad I went. So that's what I would tell my younger self.

Jeffrey Feldberg: Doris speaking as an [00:51:00] introvert myself, I suppose I'm a business extrovert. On the personal side, I'm definitely an introvert. What I'm hearing you saying it resonates is, hey, stretch your comfort zone. Go out, meet new people, make the effort.

Doris Valade: yeah, for sure.

Jeffrey Feldberg: Yeah, and it reminds me of what my grandfather, may he rest in peace.

What he always said it was, Jeffrey is not who you are. It's who you know and isn't that the truth?

Doris Valade: Yes. Yes. And never be afraid to say hello.

Jeffrey Feldberg: Never be afraid to say hello. Really like that. And so doors were really stretching. Okay, well I don't have to be quiet over here. I can go over, say hello, introduce myself. You never know where that's gonna go. Wealth Nation, that is truly words from the wise for the wise. And what a great takeaway coming out of today's episode.

Hey, just walk up, say hello. And I, thinking back now, Doris and people that have done that where I've been too shy to say hello. They've come up and said hello. We've had a great conversation. But my initial thoughts of the person was, wow, what a brave person. I really admire that person for coming over to say hello and it's being vulnerable because we [00:52:00] could get rejected, but we're still doing it anyways.

Doris Valade: Well, we learn as we're older that we don't always care about rejection as much anymore. We just move on.

Jeffrey Feldberg: That we do. And Doris was someone in the Wealth Nation. They have a question they wanna speak to you about, perhaps Angel one being an investor in what they're doing in their company, or some advice from you. Where would be the best place online to reach you?

Doris Valade: Oh, they can reach me through LinkedIn definitely, or they can reach me directly through my website or even just an email. I do check my emails. I do read my emails, 

and that's Doris DORI s@mbargroup.ca.

Jeffrey Feldberg: Okay, well, pulpation, the great news is it doesn't get any easier. It's all in the show notes. It's a point and click. And here you have Doris, who's a post-exit entrepreneur. She had a brilliant exit, and who now is an Advisor, not only for post-exit entrepreneurs, but for startups, for founders, and she's giving you her email.

She's making the offer [00:53:00] to, hey. Be the brave one. Say hello to her. Well, why not do that again? It's all in the show notes. It's a point and click. And Doris, it's official. Congratulations, this is a wrap, and as we love to stay here at Deep Wealth, may you always continue to thrive and prosper while you remain healthy and safe.

Thank you so much.

Doris Valade: I enjoyed today. 

Jeffrey Feldberg: So there you have it, Deep Wealth Nation. What did you think? 

So with all that said and as we wrap it up, I have another question for you.

Actually, it's more of a personal favor. 

Did you find this episode helpful? 

Have you found other episodes of the Deep Wealth Podcast empowering and a game changer for your journey? 

And if you said yes, and I really hope you did, I have a small but really meaningful way that you can actually help us out and keep these episodes coming to you.

Are you ready for it? 

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God bless.